United Airlines, the world’s largest carrier, intends to buy US Airways for $11.6 billion, according to published reports.

United tried unsuccessfully in 1995 to buy US Airways for its valuable short-haul routes in the East, then had to start its own costly short-haul routes to duplicate those of US Airways.

United said that under the new merger plan, the company would save money by combining its east-west routes with US Airways north-south routes, said reports by Bloomberg and FT.com, the Financial Times’ Web site.

To sweeten the deal this time around, United would offer $60 a share – or $4.3 billion in cash – for US Airways, a 131 percent premium over the price of US Airways, the nation’s sixth largest carrier.

The balance of the $11.6 billion total would be in assumed US Airways debt and its airplane leases.

Reports of the deal broke after the close of trading. Yesterday, US Airways rose $1.06 to $26.31, while United was up 62 cents to $60.37.

In the merger plan, United would assume $1.6 billion in US Airway debt and take care of its $5.7 billion in leases.

The United and US Airways boards already have approved the deal, according to Bloomberg, and the merger is expected to be announced today.

The deal could mark a career triumph for the seasoned airline executive in charge of United, James Goodwin, 54, who’s been with United for 34 years.

Goodwin took over as chairman and CEO last year after the retirement of Gerry Greenwald, the former boy wonder of Chrysler who helped employees of United buy out the company a decade ago.

United, which is plagued with a shortage of pilots, already has said it needs personnel to fly its 2,400 scheduled flights.

Just three days ago, United said it was forced to cancel 6.5 percent of its flights because no pilots were available to the flights.

US Airways pilots could change their colors to United and temporarily solve United’s pilot shortage.

The deal to buy US Airways, the nation’s sixth largest airline, could face some regulatory hurdles, say industry sources. United intends to sell some assets at Ronald Reagan Airport, near Washington, for antitrust reasons. United will keep its Washington-New York shuttle, said Bloomberg.

Labor unions are also in the middle of contract talks and unions are seeeking wage hikes, issues that could complicate merger discussions. The Chicago-based United, which is 47 percent owned by its employees, said pilots won’t make any overtime flights.

The Air Line Pilots Association is currently in contract talks with United.

American Airlines, the nation’s second largest carrier, is also in contract talks with flight attendants. Early details of their flight attendents’ contract indicate they would receive the highest pay I the industry.

America and the pilots union broke off talks earlier after failing to reach an accord on a proposed four-year contract.